Form 6-K
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 001-39316

 

 

BURNING ROCK BIOTECH LIMITED

(Registrant’s Name)

 

 

No.5 Xingdao Ring Road North, International Bio Island

Guangzhou, Guangdong

People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

 

 
 


INCORPORATION BY REFERENCE

Exhibit 99.1 (excluding the paragraphs under the heading “Non-GAAP Measures,” the table under the heading “Burning Rock Biotech Limited Reconciliations of GAAP and Non-GAAP Results,” and other discussions on non-GAAP measures therein) of this current report on Form 6-K (the “Report”) shall be incorporated by reference into the Company’s registration statements on Form F-3, which became effective on September 30, 2022 (File no. 333-264577).

 

2


EXHIBIT INDEX

 

Number   

Description of Document

Exhibit 99.1    Press release

 

3


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

   

Burning Rock Biotech Limited

 

    By:  

/s/ Yusheng Han

    Name:   Yusheng Han
    Title:   Chief Executive officer

Date: June 9, 2026

 

4

EX-99.1

Exhibit 99.1

Burning Rock Reports First Quarter 2026 Financial Results

GUANGZHOU, China, June 9, 2026—Burning Rock Biotech Limited (NASDAQ: BNR, the “Company” or “Burning Rock”), a company focused on the application of next-generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended March 31, 2026.

Recent Business Updates

 

   

Early Detection, Therapy Selection & MRD

 

   

Presented multiple study results at the 2026 AACR in April, showcasing validation data on MMcall, CanCatch Surf, 25-plex ddPCR, and SPIRAL.

 

   

Presented study results at Journal for ImmunoTherapy of Cancer in April 2026. “A four-cycle perioperative regimen of serplulimab combined with taxane-carboplatin demonstrated promising MPR and pCR rates with an acceptable safety profile in patients with resectable sq-NSCLC.”

First Quarter 2026 Financial Results

Revenues were RMB107.9 million (US$15.6 million) for the three months ended March 31, 2026, representing an 18.9% decrease from RMB133.1 million for the same period in 2025.

 

   

Revenue generated from central laboratory business was RMB32.3 million (US$4.7 million) for the three months ended March 31, 2026, representing a 15.3% decrease from RMB38.3 million for the same period in 2025, primarily attributable to a decrease in the number of tests, as we continued our transition towards in-hospital testing.

 

   

Revenue generated from in-hospital business was RMB52.8 million (US$7.6 million) for the three months ended March 31, 2026, representing an 8.5% decrease from RMB57.7 million for the same period in 2025, primarily attributable to a decrease in revenue from two hospitals due to one-off issue. Excluding such two, in-hospital revenue for the three months ended March 31, 2026 would have increased by 2% year-over-year.

 

   

Revenue generated from pharma research and development services was RMB22.8 million (US$3.3 million) for the three months ended March 31, 2026, representing a 38.6% decrease from RMB37.1 million for the same period in 2025, primarily attributable to decreased testing services performed for our pharma customers and lower milestone progress of our pharma programs achieved due to timing of the projects.

Cost of revenues was RMB29.9 million (US$4.3 million) for the three months ended March 31, 2026, representing a 16.1% decrease from RMB35.7 million for the same period in 2025.

Gross profit was RMB78.0 million (US$11.3 million) for the three months ended March 31, 2026, representing a 19.9% decrease from RMB97.4 million for the same period in 2025. Gross margin was 72.3% for the three months ended March 31, 2026, compared to 73.2% for the same period in 2025. By channel, gross margin of central laboratory business was 88.7% for the three months ended March 31, 2026, compared to 84.1% during the same period in 2025, primarily driven by a reduction in inventory write-downs; gross margin of in-hospital business was 72.9% for the three months ended March 31, 2026, compared to 76.1% during the same period in 2025, primarily attributable to a decrease in sales volume to high margin products; gross margin of pharma research and development services was 47.4% for the three months ended March 31, 2026, compared to 57.5% during the same period of 2025, primarily due to a decrease in test volume of higher-margin projects.

Non-GAAP gross profit, which excludes depreciation and amortization expenses, was RMB80.5 million (US$11.7 million) for the three months ended March 31, 2026, representing a 20.0% decrease from RMB100.7 million for the same period in 2025. Non-GAAP gross margin was 74.6% for the three months ended March 31, 2026, compared to 75.6% for the same period in 2025. For more details on these non-GAAP financial measures, please see the table captioned “Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

 

1


Operating expenses were RMB96.9 million (US$14.1 million) for the three months ended March 31, 2026, representing a 14.0% decrease from RMB112.6 million for the same period in 2025. The decrease was primarily driven by business cost and payment collection control to improve operating efficiency.

 

   

Research and development expenses were RMB27.6 million (US$4.0 million) for the three months ended March 31, 2026, representing a 31.8% decrease from RMB40.4 million for the same period in 2025, primarily due to (i) a temporary decrease across different research phases, and (ii) a decrease in amortized expense on share-based compensation.

 

   

Selling and marketing expenses were RMB41.2 million (US$6.0 million) for the three months ended March 31, 2026, remaining relatively stable as compared with RMB40.9 million for the same period in 2025.

 

   

General and administrative expenses were RMB28.1 million (US$4.1 million) for the three months ended March 31, 2026, representing a 10.3% decrease from RMB31.3 million for the same period in 2025, primarily due to a decrease in impairment expenses for accounts receivables and contract assets.

Net loss was RMB17.5 million (US$2.5 million) for the three months ended March 31, 2026, compared to RMB13.5 million for the same period in 2025.

Cash, cash equivalents and restricted cash were RMB448.7 million (US$65.1 million) as of March 31, 2026.

 

2


Exchange Rate Information

This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB6.8980 to US$1.00, the exchange rate on March 31, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

About Burning Rock

Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage.

For more information about Burning Rock, please visit: ir.brbiotech.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Burning Rock’s beliefs and expectations, are forward-looking statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

 

3


Non-GAAP Measures

In evaluating the business, the Company considers and uses non-GAAP measures, such as non-GAAP gross profit and non-GAAP gross margin, as supplemental measures to review and assess operating performance and formulate business plans. However, the presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). These non-GAAP financial measures may be different from non-GAAP methods of accounting and reporting used by other companies, including peer companies, and therefore their comparability may be limited.

The Company defines non-GAAP gross profit as gross profit excluding depreciation and amortization. The Company defines non-GAAP gross margin as non-GAAP gross profit divided by its revenue.

The Company believes presenting non-GAAP gross profit and non-GAAP gross margin excluding non-cash impact of depreciation and amortization, in addition to the Company’s GAAP gross profit and gross margin, provides a better understanding of the underlying trends in the Company’s operating business performance.

Reconciliation of these non-GAAP financial measures to the most directly comparable U.S. GAAP measures are set forth at the end of this press release, all of which should be considered when evaluating the Company’s performance.

Contact: IR@brbiotech.com

 

4


Selected Operating Data

 

     As of  
     March 31,      June 30,      September      December      March 31,  
     2025      2025      30, 2025      31, 2025      2026  

In-hospital channel:

              

Pipeline partner hospitals(1)

     30        30        31        30        30  

Contracted partner hospitals(2)

     63        63        63        64        64  

Total number of partner hospitals

     93        93        94        94        94  

 

(1) 

Refers to hospitals that are in the process of establishing in-hospital laboratories, laboratory equipment procurement or installation, staff training or pilot testing using the Company’s products.

(2) 

Refers to hospitals that have entered into contracts to purchase the Company’s products for use on a recurring basis in their respective in-hospital laboratories the Company helped them establish. Kit revenue is generated from contracted hospitals.

 

5


Selected Financial Data

 

     For the three months ended  
     March 31,      June 30,      September      December      March 31,  
Revenues    2025      2025      30, 2025      31, 2025      2026  
            (RMB in thousands)         

Central laboratory channel

     38,296        40,861        36,811        44,025        32,420  

In-hospital channel

     57,687        62,496        52,847        51,005        52,761  

Pharma research and development channel

     37,099        45,197        41,959        31,285        22,762  

Total revenues

     133,082        148,554        131,617        126,315        107,943  

 

     For the three months ended  
     March 31,      June 30,      September      December      March 31,  
Revenues by location of contracting customer    2025      2025      30, 2025      31, 2025      2026  
            (RMB in thousands)         

Overseas

     24,407        37,458        17,214        21,849        8,544  

Chinese mainland

     108,675        111,096        114,403        104,466        99,399  

Total revenues

     133,082        148,554        131,617        126,315        107,943  

 

     For the three months ended  
     March 31,      June 30,      September      December      March 31,  
Gross profit    2025      2025      30, 2025      31, 2025      2026  
            (RMB in thousands)         

Central laboratory channel

     32,191        35,937        30,126        39,322        28,761  

In-hospital channel

     43,895        46,490        37,925        38,388        38,458  

Pharma research and development channel

     21,315        25,676        30,793        20,856        10,789  

Total gross profit

     97,401        108,103        98,844        98,566        78,008  

 

6


     For the three months ended  
     March 31,      June 30,     September      December      March 31,  
Share-based compensation expenses    2025      2025     30, 2025      31, 2025      2026  
            (RMB in thousands)         

Cost of revenues

     308        280       301        300        82  

Research and development expenses

     1,800        (270     73        259        (345

Selling and marketing expenses

     1,025        364       624        748        164  

General and administrative expenses

     1,413        2,005       2,831        1,815        1,907  

Total share-based compensation expenses

     4,546        2,379       3,829        3,122        1,808  

 

7


Burning Rock Biotech Limited

Unaudited Condensed Statements of Comprehensive Loss

(in thousands, except for number of shares and per share data)

 

     For the three months ended  
     March 31,     June 30,     September     December     March 31,     March 31,  
     2025     2025     30, 2025     31, 2025     2026     2026  
     RMB     RMB     RMB     RMB     RMB     US$  

Revenues

     133,082       148,554       131,617       126,315       107,943       15,649  

Cost of revenues

     (35,681     (40,451     (32,773     (27,749     (29,935     (4,339
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     97,401       108,103       98,844       98,566       78,008       11,310  

Operating expenses:

            

Research and development expenses

     (40,389     (49,770     (41,469     (34,866     (27,559     (3,995

Selling and marketing expenses

     (40,888     (38,413     (41,808     (44,066     (41,206     (5,974

General and administrative expenses

     (31,303     (31,417     (31,698     (31,672     (28,088     (4,072
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     (112,580     (119,600     (114,975     (110,604     (96,853     (14,041
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss from operations

     (15,179     (11,497     (16,131     (12,038     (18,845     (2,731

Interest income

     2,581       2,226       1,744       1,502       1,261       183  

Interest expense

     —        —        (15     (15     (15     (2

Other (expense) income, net

     (652     387       7       1       294       43  

Foreign exchange (loss) gain, net

     (26     (574     (2,151     (3,960     65       9  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss before income tax

     (13,276     (9,458     (16,546     (14,510     (17,240     (2,498

Income tax expenses

     (224     (244     (212     (876     (232     (34
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

     (13,500     (9,702     (16,758     (15,386     (17,472     (2,532
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss attributable to Burning Rock Biotech Limited’s shareholders

     (13,500     (9,702     (16,758     (15,386     (17,472     (2,532

Net loss attributable to ordinary shareholders

     (13,500     (9,702     (16,758     (15,386     (17,472     (2,532

Loss per share for class A and class B ordinary shares:

            

Class A ordinary shares - basic and diluted

     (0.13     (0.09     (0.16     (0.15     (0.17     (0.02

Class B ordinary shares - basic and diluted

     (0.13     (0.09     (0.16     (0.15     (0.17     (0.02

Weighted average shares outstanding used in loss per share computation:

            

Class A ordinary shares - basic and diluted

     90,291,658       90,357,970       90,416,619       87,444,109       87,871,026       87,871,026  

Class B ordinary shares - basic and diluted

     17,324,848       17,324,848       17,324,848       17,324,848       17,324,848       17,324,848  

Other comprehensive loss, net of tax of nil:

            

Foreign currency translation adjustments

     (72     (243     (1,724     (2,050     (3,143     (456

Total comprehensive loss

     (13,572     (9,945     (18,482     (17,436     (20,615     (2,988

Total comprehensive loss attributable to Burning Rock Biotech Limited’s shareholders

     (13,572     (9,945     (18,482     (17,436     (20,615     (2,988

 

8


Burning Rock Biotech Limited

Unaudited Condensed Consolidated Balance Sheets

(In thousands)

 

     As of  
     December 31,      March 31,      March 31,  
     2025      2026      2026  
     RMB      RMB      US$  

ASSETS

        

Current assets:

        

Cash and cash equivalents

     478,392        446,002        64,657  

Restricted cash

     2,696        2,728        395  

Accounts receivable, net

     169,611        164,497        23,847  

Contract assets, net

     12,301        12,715        1,843  

Inventories, net

     56,975        54,294        7,871  

Prepayments and other current assets

     18,611        20,759        3,010  
  

 

 

    

 

 

    

 

 

 

Total current assets

     738,586        700,995        101,623  

Non-current assets:

        

Property and equipment, net

     31,099        26,997        3,914  

Operating right-of-use assets

     42,774        51,931        7,528  

Intangible assets, net

     284        258        37  

Other non-current assets

     7,632        7,603        1,102  
  

 

 

    

 

 

    

 

 

 

Total non-current assets

     81,789        86,789        12,581  

TOTAL ASSETS

     820,375        787,784        114,204  
  

 

 

    

 

 

    

 

 

 

 

9


Burning Rock Biotech Limited

Unaudited Condensed Consolidated Balance Sheets (Continued)

(in thousands)

 

     As of  
     December 31,     March 31,     March 31,  
     2025     2026     2026  
     RMB     RMB     US$  

LIABILITIES AND SHAREHOLDERS’ EQUITY

      

Current liabilities:

      

Accounts payable

     40,744       18,043       2,616  

Deferred revenue

     107,819       114,487       16,597  

Accrued liabilities and other current liabilities

     80,861       75,381       10,928  

Customer deposits

     592       592       86  

Current portion of long-term borrowings

     200       200       29  

Current portion of operating lease liabilities

     16,762       21,113       3,061  

Total current liabilities

     246,978       229,816       33,317  
  

 

 

   

 

 

   

 

 

 

Non-current liabilities:

      

Long-term borrowings

     1,700       1,700       246  

Non-current portion of operating lease liabilities

     24,458       27,850       4,037  

Other non-current liabilities

     11,975       11,961       1,734  
  

 

 

   

 

 

   

 

 

 

Total non-current liabilities

     38,133       41,511       6,017  

TOTAL LIABILITIES

     285,111       271,327       39,334  
  

 

 

   

 

 

   

 

 

 

Shareholders’ equity:

      

Class A ordinary shares

     120       120       17  

Class B ordinary shares

     21       21       3  

Additional paid-in capital

     5,010,060       5,011,868       (8,291

Treasury stock

     (57,193     (57,193     726,568  

Accumulated deficits

     (4,255,607     (4,273,079     (619,466

Accumulated other comprehensive loss

     (162,137     (165,280     (23,961

Total shareholders’ equity

     535,264       516,457       74,870  
  

 

 

   

 

 

   

 

 

 

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

     820,375       787,784       114,204  
  

 

 

   

 

 

   

 

 

 

 

10


Burning Rock Biotech Limited

Unaudited Condensed Statements of Cash Flows

(in thousands)

 

     For the three months ended  
     March 31,     March 31,     March 31,  
     2025     2026     2026  
     RMB     RMB     US$  

Net cash used in operating activities

     (23,527     (29,304     (4,248

Net cash used in investing activities

     (1,531     (364     (53

Net cash generated from financing activities

     —        —        —   

Effect of exchange rate on cash, cash equivalents and restricted cash

     302       (2,690     (390

Net decrease in cash, cash equivalents and restricted cash

     (24,756     (32,358     (4,691

Cash, cash equivalents and restricted cash at the beginning of period

     522,162       481,088       69,743  

Cash, cash equivalents and restricted cash at the end of period

     497,406       448,730       65,052  

 

11


Burning Rock Biotech Limited

Reconciliations of GAAP and Non-GAAP Results

 

     For the three months ended  
     March 31,     June 30,     September     December     March 31,  
     2025     2025     30, 2025     31, 2025     2026  
           (RMB in thousands)        

Gross profit:

          

Central laboratory channel

     32,191       35,937       30,126       39,322       28,761  

In-hospital channel

     43,895       46,490       37,925       38,388       38,458  

Pharma research and development channel

     21,315       25,676       30,793       20,856       10,789  

Total gross profit

     97,401       108,103       98,844       98,566       78,008  

Add: depreciation and amortization:

          

Central laboratory channel

     562       456       231       490       412  

In-hospital channel

     290       389       372       308       228  

Pharma research and development channel

     2,412       1,528       1,491       2,057       1,885  

Total depreciation and amortization included in cost of revenues

     3,264       2,373       2,094       2,855       2,525  

Non-GAAP gross profit:

          

Central laboratory channel

     32,753       36,393       30,357       39,812       29,173  

In-hospital channel

     44,185       46,879       38,297       38,696       38,686  

Pharma research and development channel

     23,727       27,204       32,284       22,913       12,674  

Total non-GAAP gross profit

     100,665       110,476       100,938       101,421       80,533  

Non-GAAP gross margin:

          

Central laboratory channel

     85.5     89.1     82.5     90.4     90.0

In-hospital channel

     76.6     75.0     72.5     75.9     73.3

Pharma research and development channel

     64.0     60.2     76.9     73.2     55.7

Total non-GAAP gross margin

     75.6     74.4     76.7     80.3     74.6

 

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